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VICTORIA, July 8 /CNW Telbec/ - Streetlight Intelligence Inc. ("SLQ")
continues to build its leadership to reflect the recent "top down" focus on
the commercialization of its proprietary, street light optimization
technologies. With primary research and development completed and the
introduction of Vince Krynski as Chief Executive Officer earlier this year,
SLQ continues to strengthen its strategic expertise to support SLQ's
operational growth and new focus on sales and marketing.
New Chief Financial Officer
SLQ is pleased to announce that it has appointed Mark Alenius as Chief
Financial Officer, effective July 1, 2008. Mr. Alenius is a Chartered
Accountant with over 25 years experience, including public accounting and
senior finance positions in both private and publicly traded corporations.
Mr. Alenius is an experienced operational chief financial officer who will
bring a "hands on" approach to overseeing and supporting the financial
activities of SLQ.
Mr. Alenius replaces Bradley A. Williams who has resigned from SLQ to
pursue other business interests. SLQ extends its gratitude to Mr. Williams for
his contributions and wishes him the very best in future endeavors.
New Director
SLQ is pleased to announce that it has appointed Dale Gann to SLQ's Board
of Directors, effective July 1, 2008. Mr. Gann brings over fourteen year's
executive experience in North America's high technology sector to the Board.
He is currently serving as President of the Canadian Association of University
Research Parks (AURP Canada) and Vice Chair of The Vancouver Island Advanced
Technology Centre (VIATeC). Mr. Gann is well known and respected in the BC
technology industry for his efforts in promoting international trade, as well
as connecting people and organizations with opportunities on a global basis.
"We are excited to have Dale join our Board of Directors," states
Lee Richardson, Chairman of the Board. "His experience and 'can do' attitude
are perfectly aligned with the objectives of SLQ as we shift its focus to
commercialization."
SLQ also announces that effective July 1, 2008, Martin A. Winstanley has
resigned from the Board in order to dedicate his time and energies to his
other business and personal pursuits. "Martin was fundamental in the early
stages of SLQ and we will always appreciate his many contributions. He remains
a good friend and we wish him all the best," states Mr. Richardson.
Granting of Options
SLQ has granted options to purchase 120,000 common shares ("Directors'
and Officers' Options") to a director of SLQ and options to purchase
500,000 common shares ("Employees' and Consultants' Options") to consultants
of SLQ. The stock options permit each individual to purchase common shares of
SLQ over a term of five (5) years at an exercise price of $0.33 per share,
which exceeds the closing price of the common shares on the TSX Venture
Exchange Inc. on June 30, 2008, but is consistent with other recent grants.
The Directors' and Officers' options shall vest immediately and the Employees'
and Consultants' options shall vest as to one-third (1/3) immediately and as
to two-thirds (2/3) upon SLQ achieving certain performance milestones.
About Streetlight Intelligence Inc.
Streetlight Intelligence Inc. develops advanced street light optimization
systems. Trademarked as Lumen IQ(TM), SLQ's technologies provide improved lamp
performance, advanced adaptive lighting control, and system-wide
communications for centralized street light management. They enable street
light operators to significantly reduce their community's energy consumption,
maintenance costs and environmental impact.
SLQ is a public company listed on the TSX Venture Exchange under the
symbol "SLQ". For more information, visit www.StreetlightIQ.com or contact:
This news release may contain certain forward-looking statements that
involve substantial know and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond SLQ's control, including: the impact of general
economic conditions in Canada and in countries in which SLQ and its
subsidiaries currently do business, industry conditions, increased
competition, the lack of available qualifies personnel or management,
equipment failures, fluctuations in product prices and in foreign exchange or
interest rates and stock market volatility. SLQ's actual results, performance
or achievements could differ materially from those expressed in, or implied
by, these forward-looking statements and, accordingly, no assurances can be
given that any of the events anticipated by the forward-looking statements
will transpire or occur, of if any of them do so, what benefits SLQ will
derive there from.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
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